EPF to touch the trillion mark
Shirajiv SIRIMANE
The Employees' Provident Fund (EPF) deposit base will reach the Rs
trillion mark by the end of the year, Central Bank Governor Ajith Nivard
Cabraal said.
He said while other funds are aiming at billions, the EPF will target
the Rs trillion mark.
Ajith Nivard Cabraal |
He emphasized that EPF has people's money and it is managed by the
Monetary Board. It has a proud history of over 53 years and is one of
the best managed funds in the country.
The Governor also reaffirmed that the fund is very firm and do not
have any corruption related issues.
He said there were several suggestions that the EPF fund management
should be handed over to a foreign company or given out to international
agencies. "However, we never want to do this as it is functioning
smoothly," he said. |